Brazil, the largest economy in South America, is looking to further trade and tighten relations with their BRICS ally China, calling upon other nations to join them in dumping the U.S. dollar as the world reserve currency.
Brazilian President Luiz Inácio Lula met with Chinese President Xi Jinping last week in Beijing, where the two discussed to “expand trade and balance in world geopolitics.” Unlike Brazil’s previous President Jair Bolsonaro who was in favor of working more closely with the United States, Lula would much rather operate with the BRICS nations and further distance themselves from the dollar.
According to Info BRICS, Lula boldly stated during a press conference with the Chinese leaders:
Why can’t we do trade based on our own currencies? Who was it that decided that the dollar was the currency after the disappearance of the gold standard? Why can’t a bank like that of the BRICS have a currency to finance trade relations between Brazil and China, between Brazil and other countries? It’s difficult because we are unaccustomed [to the idea]. Everyone depends on just one currency.
Lula stated
SEE: BRICS Nations Discussing Working On A ‘Fundamentally New Currency’ According To Russian Official
Lula and Xi signed 15 trade agreements during this meeting.
Lula’s main objective in visiting was to reportedly discuss the issue of the Russia-Ukraine conflict, where Lula planned to discuss his “peace club” ideas and the nations calls for peace and solidarity, but this largely moved towards the backburner.
The Trends Journal added, ‘Manoj Kewalramani, a Chinese studies fellow at the Takshashila Institution, an Indian think tank, told the paper that Xi has been effective in positioning China as a “place where you can hedge for better deals, where you can push back against the U.S. a little more.”’
‘Pedro Brites, an expert on China at the Getulio Vargas Foundation, a university and think tank in Sao Paulo, told the Associated Press that Brazil can’t afford to “turn its back on the benefits China brings. The U.S. doesn’t have the capacity to absorb Brazil’s exports as China does, nor occupy the same space in investment and infrastructure,”‘ The TJ also wrote.
Several weeks ago The WinePress reported that China and Brazil agreed to a new deal to ultimately work to bring down the U.S. hegemony, launching a new trade deal to transact only in Chinese yuan and Brazilian reals, further expanding China’s trade reach around the world.
Around this same time U.S. Senator Marco Rubio issued a statement that went viral, lamenting that these nations who are pulling away from the U.S. dollar will be unsanctionable.
There’ll be so many countries transacting in currencies other than the dollar that we won’t have the ability to sanction them.
Rubio said in an interview Fox News’ Sean Hannity
Many in the comments of the video expressed their frustration with Rubio and Hannity, saying that their smug remarks are the reasons why countries are looking to exit the dollar and truly be autonomous, such as calling BRICS nations a new “axis of evil.” Others also mocked the United States’ fleeting ability to no longer bullying nations like it is used to doing.
CPA Lena Petrova provides an overview of this significant move by Brazil, hinting that de-dollarization is only ramping up, which means that it is all the more important for Americans to better manage and protect their finances and investments, she says.
AUTHOR COMMENTARY
He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want.
Proverbs 22:16
The tables are turning on the U.S. It’s had its fun in the sun for a while, but that is now changing rapidly.
The U.S. WILL lose it’s reserve currency status, and when it does – to say a “change in our daily lives” is putting it quite mildly: it will descend into Mad Max, The Walking Dead, Fallout, you name it. I’m not saying this will happen overnight, but it is happening fast.
Right now mainstream economists and puppets are lying even more than ever it seems, trying to convince everyone that everything will be fine, and that America will never fall; wasting your time with Trump this, and Trump that. Ignore it and stay focused.
Click here for more information on the de-dollarization and burning economy.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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